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Main scenario: consider short positions from corrections below the level of 0.9108 with a target of 0.8325 – 0.8050 once a correction is completed.
Alternative scenario: breakout and consolidation above the level of 0.9108 will allow the pair to continue rising to the levels of 0.9240 – 0.9451.
Analysis: the downside fifth wave of larger degree (5) is presumably unfolding on the daily time frame. As its part, wave 1 of (5) is formed, a bullish correction is completed as second wave 2 of (5), and the third wave 3 of (5) is unfolding. The first wave of smaller degree i of 3 is formed on the H4 chart, and a local correction continues developing as second wave ii of 3. Wave (с) of ii appears to be unfolding on the H1 chart, with wave iii of (c) developing as its part. Upon correction, if the presumption is correct, the USDCHF pair will continue falling to 0.8325 – 0.8050. The level of 0.9108 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 0.9240 – 0.9451.
Price chart of USDCHF in real time mode
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